Gold (XAU/USD) price attracts fresh buyers, rising to $2,365, its highest level since June 21, during the Asian session on Friday. This increase follows the recent range-bound price action and is driven by the market’s pricing in a higher likelihood of the Federal Reserve cutting interest rates in September and December due to softer US macroeconomic data.
Consequently, the US Dollar (USD) has weakened for the fourth consecutive day, hitting a three-week low, which supports the commodity’s price.